Review of 2002/03

摘要

Government measures in many countries prevented a drop in cotton area commensurate with the collapse in international prices in 2001. Prices at the time of planting were at their lowest level, in nominal terms, at that period of the year since 1973.Further, prices were considerably below the cost of production for most producers. Nevertheless, world cotton area declined by only 11 percent in 2002/03 to just below 30 million hectares, the lowest since 1986/87. It is estimated that 22 percent of theworld cotton area was planted to transgenic varieties in 2002/03, up from 17 percent in 2001/02 and 2 percent in 1996/97.